Visa Inc. $V Stock Position Reduced by Evelyn Partners Investment Management LLP

Key Points

• Evelyn Partners Investment Management reduced its Visa stake by 2.8%, selling 10,181 shares and retaining 351,875 shares valued at approximately $106.4 million. Institutional investors collectively own 82.15% of Visa.
• Visa shares rose 1.9% to $362.37, near their 52-week high. The company reported quarterly earnings of $3.31 per share and revenue of $11.23 billion, surpassing analyst expectations, while revenue increased 17.1% year over year.
• Visa authorized a $20 billion share-repurchase program, and analysts maintain a favorable outlook with an average “Buy” rating and a consensus price target of $399.41.

Evelyn Partners Investment Management LLP cut its holdings in Visa Inc. (NYSE:V - Free Report) by 2.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 351,875 shares of the credit-card processor's stock after selling 10,181 shares during the period. Visa comprises about 2.9% of Evelyn Partners Investment Management LLP's holdings, making the stock its 8th largest position. Evelyn Partners Investment Management LLP's holdings in Visa were worth $106,351,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of V. Invariant Investment Management purchased a new stake in shares of Visa during the 4th quarter worth approximately $969,000. Nixon Peabody Trust Co. grew its position in shares of Visa by 58.1% in the 1st quarter. Nixon Peabody Trust Co. now owns 4,201 shares of the credit-card processor's stock valued at $1,270,000 after buying an additional 1,543 shares during the last quarter. Vanguard Group Inc. raised its stake in Visa by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 160,975,832 shares of the credit-card processor's stock worth $56,455,834,000 after acquiring an additional 1,054,343 shares in the last quarter. Savvy Advisors Inc. raised its stake in Visa by 30.1% during the 4th quarter. Savvy Advisors Inc. now owns 28,922 shares of the credit-card processor's stock worth $10,143,000 after acquiring an additional 6,688 shares in the last quarter. Finally, Wealth Enhancement Trust Services Inc. purchased a new stake in Visa in the fourth quarter valued at $15,966,000. 82.15% of the stock is owned by hedge funds and other institutional investors.

Visa Stock Up 1.9%

V opened at $362.37 on Tuesday. Visa Inc. has a 52 week low of $293.89 and a 52 week high of $365.14. The business has a 50 day moving average price of $338.16 and a two-hundred day moving average price of $325.18. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.64. The company has a market cap of $650.01 billion, a PE ratio of 31.57, a P/E/G ratio of 1.89 and a beta of 0.75.

Visa (NYSE:V - Get Free Report) last announced its earnings results on Tuesday, April 28th. The credit-card processor reported $3.31 earnings per share for the quarter, beating the consensus estimate of $3.10 by $0.21. The company had revenue of $11.23 billion for the quarter, compared to the consensus estimate of $10.75 billion. Visa had a return on equity of 65.00% and a net margin of 51.68%.The company's revenue was up 17.1% on a year-over-year basis. During the same period last year, the business posted $2.76 EPS. As a group, research analysts anticipate that Visa Inc. will post 13.12 EPS for the current year.

Visa announced that its Board of Directors has approved a share buyback plan on Tuesday, April 28th that permits the company to repurchase $20.00 billion in shares. This repurchase authorization permits the credit-card processor to reacquire up to 3.6% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company's leadership believes its shares are undervalued.

Analyst Upgrades and Downgrades

V has been the topic of several research reports. Clear Str raised Visa to a "strong-buy" rating in a report on Thursday, July 16th. Erste Group Bank raised Visa from a "hold" rating to a "buy" rating in a report on Monday. BMO Capital Markets reissued an "outperform" rating and issued a $387.00 target price (up from $375.00) on shares of Visa in a research report on Wednesday, July 15th. Raymond James Financial restated an "outperform" rating and set a $389.00 price target on shares of Visa in a research note on Wednesday, April 29th. Finally, Morgan Stanley reaffirmed an "overweight" rating and set a $415.00 price target on shares of Visa in a research report on Wednesday, April 29th. Eight equities research analysts have rated the stock with a Strong Buy rating and nineteen have given a Buy rating to the stock. According to data from MarketBeat.com, Visa presently has an average rating of "Buy" and an average target price of $399.41.

Insider Buying and Selling

In other Visa news, CFO Chris Suh sold 10,639 shares of the company's stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $324.81, for a total transaction of $3,455,653.59. Following the completion of the transaction, the chief financial officer owned 9,872 shares in the company, valued at approximately $3,206,524.32. This represents a 51.87% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Ryan Mcinerney sold 10,490 shares of the firm's stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $343.99, for a total transaction of $3,608,455.10. Following the completion of the sale, the chief executive officer owned 15,174 shares of the company's stock, valued at $5,219,704.26. This trade represents a 40.87% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 75,581 shares of company stock valued at $25,627,975 over the last three months. 0.12% of the stock is currently owned by company insiders.

About Visa

Visa Inc is a global payments technology company that facilitates electronic funds transfers and digital commerce by connecting consumers, merchants, financial institutions and governments. The firm operates one of the world's largest payment networks, providing processing, authorization, clearing and settlement services for credit, debit and prepaid card transactions. Visa's network-based model enables partner banks and other issuers to offer branded payment products while Visa focuses on the infrastructure, standards and technologies that move money securely and efficiently around the world.

Visa's product and service portfolio includes card-based payment products for consumers and businesses, real-time push-payment capabilities, tokenization and authentication services, fraud and risk-management tools, data analytics and APIs for fintech and merchant integration.

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